Banning Noncompete Agreements: Increased Job Mobility and Higher Wages for Workers.
This Act generally prohibits and voids most noncompete agreements for employees and contractors across the US. This change grants citizens greater freedom to switch jobs and industries after leaving an employer, aiming to boost wage growth and labor market potential. Exceptions are limited primarily to business sales and highly compensated senior executives.
Key points
Prohibits the use and enforcement of most noncompete agreements for all employees and independent contractors.
Increases worker mobility and potential for higher wages by removing restrictions on post-employment work.
Employers retain the ability to protect trade secrets and intellectual property using nondisclosure agreements.
The law is enforced by the FTC and DOL, and individuals can file lawsuits directly if their rights are violated.
Expired
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